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Wednesday, 09 August 23
COAL TRADE TO RETURN TO 2019 LEVELS - BALTIC EXCHANGE
The International Energy Agency’s mid-year Coal Market Update for 2023 brings both positive and concerning news for the global coal industry. After a tumultuous few years marked by the Covid-19 shock in 2020 and the turmoil caused by Russia’s invasion of Ukraine in 2022, the coal markets have returned to more predictable and stable patterns in 2023. Notably, coal trade is heading back to 2019 volumes, with Chinese imports leading the charge.
One significant factor contributing to the surge in coal imports is the decline in coal prices. Cheaper coal has made imports more attractive, especially for price-sensitive buyers. China, the world’s largest coal consumer and producer, has almost doubled its imports in the first half of 2023. As a result, global coal trade is projected to grow by more than 7%, outpacing overall demand growth and approaching record levels seen in 2019. Seaborne coal trade may even surpass the 2019 record of 1.3 billion tonnes.
Another reason for the upward trajectory in coal supply is the stronger financial position of coal mining companies. Despite no new large-scale projects coming online, the high prices in 2022 have left these companies with more robust balance sheets, allowing them to invest in sustaining and even expanding capital expenditures. Additionally, the end of La Niña, which hampered coal production in Australia, has bolstered the coal supply outlook for 2023, despite the retreat of coal prices from their peak.
Renewed demand
The demand side of the equation is also playing a vital role in the resurgence of coal trade.
Even the European Union, traditionally a coal importer, temporarily turned into an exporter of thermal coal due to ample inventories accumulated during the previous year and reduced coal-fired power generation.
Global coal consumption reached an all-time high in 2022 and is expected to remain near that record level in 2023. Asia, led by China, India, and Southeast Asian countries, is expected to account for a significant portion of coal consumption. China and India together are projected to use almost 75% of the world’s coal in 2023, further solidifying their dominance in the market.
Despite the positive developments in the coal industry, concerns remain regarding the environmental impact of coal usage. Coal remains the largest single source of carbon emissions from the energy sector, and while clean energy has put coal use into structural decline in Europe and the United States, demand remains stubbornly high in Asia.
To address this, the IEA emphasises the need for greater policy efforts, investments, and stronger international cooperation to drive a massive surge in clean energy and energy efficiency to reduce coal demand in rapidly growing economies.
“But demand remains stubbornly high in Asia, even as many of those economies have significantly ramped up renewable energy sources. We need greater policy efforts and investments – backed by stronger international cooperation – to drive a massive surge in clean energy and energy efficiency to reduce coal demand in economies where energy needs are growing fast.”
Forward look
The mid-year Coal Market Update also provides insights into the future of the coal industry. Global coal demand is projected to remain flat in 2024, with declines in the electricity sector offset by small increases in the industrial sector as economic conditions improve. Asia, particularly India and Southeast Asia, is expected to experience growth in coal demand, while the United States and the European Union will see further declines. China and India are set to continue dominating the global coal consumption landscape, accounting for more than half of the world’s coal use.
Source: Baltic Exchange
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Wednesday, 19 October 22
MARKET INSIGHT - INTERMODAL
The LNG market remains extremely tight, and as a result adding further pressure on the vessel charter market, which is already stretched due to the ...
Sunday, 16 October 22
COULD A RETURN TO SHALE EXPLORATION BE PART OF THE SOLUTION TO EUROPE'S GAS SUPPLY PROBLEM? - WOOD MACKENZIE
The European gas market is in turmoil. Russia’s invasion of Ukraine has shaken things up, triggering a complete rethink of European energy st ...
Thursday, 13 October 22
THERMAL COAL PRICES RETREAT AS WINTER SUPPLY FEARS EASE - REUTERS
The prices of key thermal seaborne coal grades are retreating amid signs that supplies will be sufficient to meet winter demand in both Europe and ...
Thursday, 13 October 22
SPOT COAL BIDDING: CHINESE FIRM WANTS REVISED MECHANISM - BUSINESS RECORDER
Chinese company M/s Huaneng Shandong Ruyi (Pakistan) Energy Limited (HSR) has cautioned National Electric Power Regulatory Authority (Nepra) that i ...
Thursday, 13 October 22
OPEC DOWNGRADES CRUDE OIL DEMAND, AS WORLD ECONOMY ENTERS SLOWDOWN
Crude Oil Price Movements
The OPEC Reference Basket (ORB) declined m-o-m by $6.58 in September, or 6.5%, to average $95.32/b. Pressure from equ ...
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- Ceylon Electricity Board - Sri Lanka
- Videocon Industries ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Timah Investasi Mineral - Indoneisa
- Bhatia International Limited - India
- Orica Mining Services - Indonesia
- Globalindo Alam Lestari - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Kobexindo Tractors - Indoneisa
- Billiton Holdings Pty Ltd - Australia
- Aboitiz Power Corporation - Philippines
- Jindal Steel & Power Ltd - India
- Sindya Power Generating Company Private Ltd
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Lanco Infratech Ltd - India
- Energy Development Corp, Philippines
- Kartika Selabumi Mining - Indonesia
- Coastal Gujarat Power Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Samtan Co., Ltd - South Korea
- Independent Power Producers Association of India
- Ministry of Finance - Indonesia
- LBH Netherlands Bv - Netherlands
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Savvy Resources Ltd - HongKong
- VISA Power Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Standard Chartered Bank - UAE
- IEA Clean Coal Centre - UK
- Chettinad Cement Corporation Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Central Electricity Authority - India
- Global Coal Blending Company Limited - Australia
- PetroVietnam Power Coal Import and Supply Company
- Intertek Mineral Services - Indonesia
- Kideco Jaya Agung - Indonesia
- Bulk Trading Sa - Switzerland
- Gujarat Electricity Regulatory Commission - India
- Antam Resourcindo - Indonesia
- Indian Energy Exchange, India
- Karaikal Port Pvt Ltd - India
- Eastern Coal Council - USA
- Gujarat Mineral Development Corp Ltd - India
- Australian Coal Association
- Bharathi Cement Corporation - India
- The Treasury - Australian Government
- Economic Council, Georgia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Thiess Contractors Indonesia
- The University of Queensland
- Mercator Lines Limited - India
- Singapore Mercantile Exchange
- Wilmar Investment Holdings
- Anglo American - United Kingdom
- Agrawal Coal Company - India
- Meenaskhi Energy Private Limited - India
- New Zealand Coal & Carbon
- Eastern Energy - Thailand
- Directorate General of MIneral and Coal - Indonesia
- Essar Steel Hazira Ltd - India
- Africa Commodities Group - South Africa
- Kumho Petrochemical, South Korea
- Jaiprakash Power Ventures ltd
- Indogreen Group - Indonesia
- Siam City Cement PLC, Thailand
- Formosa Plastics Group - Taiwan
- Semirara Mining Corp, Philippines
- Minerals Council of Australia
- Kalimantan Lumbung Energi - Indonesia
- Ind-Barath Power Infra Limited - India
- Borneo Indobara - Indonesia
- Kaltim Prima Coal - Indonesia
- Madhucon Powers Ltd - India
- Vedanta Resources Plc - India
- Neyveli Lignite Corporation Ltd, - India
- Makarim & Taira - Indonesia
- Ambuja Cements Ltd - India
- Ministry of Transport, Egypt
- Marubeni Corporation - India
- Parry Sugars Refinery, India
- Posco Energy - South Korea
- Dalmia Cement Bharat India
- Semirara Mining and Power Corporation, Philippines
- Petron Corporation, Philippines
- The State Trading Corporation of India Ltd
- Star Paper Mills Limited - India
- San Jose City I Power Corp, Philippines
- McConnell Dowell - Australia
- Straits Asia Resources Limited - Singapore
- Australian Commodity Traders Exchange
- PNOC Exploration Corporation - Philippines
- Mjunction Services Limited - India
- Port Waratah Coal Services - Australia
- Alfred C Toepfer International GmbH - Germany
- Riau Bara Harum - Indonesia
- Goldman Sachs - Singapore
- International Coal Ventures Pvt Ltd - India
- Bayan Resources Tbk. - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Sical Logistics Limited - India
- Iligan Light & Power Inc, Philippines
- Rashtriya Ispat Nigam Limited - India
- Bhushan Steel Limited - India
- Merrill Lynch Commodities Europe
- Mercuria Energy - Indonesia
- Barasentosa Lestari - Indonesia
- Parliament of New Zealand
- TNB Fuel Sdn Bhd - Malaysia
- Sarangani Energy Corporation, Philippines
- Carbofer General Trading SA - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- GMR Energy Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Central Java Power - Indonesia
- Grasim Industreis Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Toyota Tsusho Corporation, Japan
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bhoruka Overseas - Indonesia
- Bukit Baiduri Energy - Indonesia
- Binh Thuan Hamico - Vietnam
- Uttam Galva Steels Limited - India
- Interocean Group of Companies - India
- Oldendorff Carriers - Singapore
- TeaM Sual Corporation - Philippines
- CIMB Investment Bank - Malaysia
- Orica Australia Pty. Ltd.
- Mintek Dendrill Indonesia
- Tamil Nadu electricity Board
- Rio Tinto Coal - Australia
- Thai Mozambique Logistica
- Romanian Commodities Exchange
- London Commodity Brokers - England
- Banpu Public Company Limited - Thailand
- Medco Energi Mining Internasional
- Attock Cement Pakistan Limited
- Maheswari Brothers Coal Limited - India
- Altura Mining Limited, Indonesia
- Edison Trading Spa - Italy
- Cigading International Bulk Terminal - Indonesia
- Heidelberg Cement - Germany
- Wood Mackenzie - Singapore
- Sakthi Sugars Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Maharashtra Electricity Regulatory Commission - India
- OPG Power Generation Pvt Ltd - India
- Indika Energy - Indonesia
- Simpson Spence & Young - Indonesia
- Ministry of Mines - Canada
- ICICI Bank Limited - India
- Vizag Seaport Private Limited - India
- Kapuas Tunggal Persada - Indonesia
- Salva Resources Pvt Ltd - India
- SMC Global Power, Philippines
- Gujarat Sidhee Cement - India
- Planning Commission, India
- European Bulk Services B.V. - Netherlands
- GVK Power & Infra Limited - India
- Therma Luzon, Inc, Philippines
- Meralco Power Generation, Philippines
- PowerSource Philippines DevCo
- Coalindo Energy - Indonesia
- Trasteel International SA, Italy
- SN Aboitiz Power Inc, Philippines
- Electricity Generating Authority of Thailand
- PTC India Limited - India
- Deloitte Consulting - India
- Aditya Birla Group - India
- Manunggal Multi Energi - Indonesia
- Kepco SPC Power Corporation, Philippines
- CNBM International Corporation - China
- Indian Oil Corporation Limited
- Petrochimia International Co. Ltd.- Taiwan
- Holcim Trading Pte Ltd - Singapore
- India Bulls Power Limited - India
- Commonwealth Bank - Australia
- Miang Besar Coal Terminal - Indonesia
- ASAPP Information Group - India
- Price Waterhouse Coopers - Russia
- Directorate Of Revenue Intelligence - India
- Metalloyd Limited - United Kingdom
- Siam City Cement - Thailand
- Sree Jayajothi Cements Limited - India
- Renaissance Capital - South Africa
- White Energy Company Limited
- Sojitz Corporation - Japan
- Chamber of Mines of South Africa
- Global Green Power PLC Corporation, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- GAC Shipping (India) Pvt Ltd
- Indonesian Coal Mining Association
- South Luzon Thermal Energy Corporation
- Georgia Ports Authority, United States
- MS Steel International - UAE
- Larsen & Toubro Limited - India
- Global Business Power Corporation, Philippines
- Bukit Makmur.PT - Indonesia
- Malabar Cements Ltd - India
- Energy Link Ltd, New Zealand
- IHS Mccloskey Coal Group - USA
- AsiaOL BioFuels Corp., Philippines
- SMG Consultants - Indonesia
- Xindia Steels Limited - India
- Power Finance Corporation Ltd., India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bangladesh Power Developement Board
- Pendopo Energi Batubara - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Indo Tambangraya Megah - Indonesia
- Cement Manufacturers Association - India
- Coal and Oil Company - UAE
- Leighton Contractors Pty Ltd - Australia
- Tata Chemicals Ltd - India
- Latin American Coal - Colombia
- Baramulti Group, Indonesia
- Electricity Authority, New Zealand
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